You may not know this, but your financial plan may not be the most valuable part of your investments.
Having a financial plan is good for investors. It provides clearly defined checkpoints on your roadmap towards financial independence. Many of us know what tends to happen with our plans: they often don’t unfold exactly as we hoped. Jobs change. Relationships end. Your twentieth anniversary trip results in a pregnancy. For a variety of possible reasons, the trajectory of life is affected. The unexpected part of life is knowing even the best-made plans can become irrelevant.
Of course, many investors know the value of creating a financial plan, which is why the most valuable investment you may make is the time you invested in planning your financial future. The financial plan itself is valuable, but the time and attention spent developing your plan may be even more valuable.
President Dwight D. Eisenhower said, “Plans are nothing; planning is everything.” According to a 2015 study of U.S. adults, approximately 34 percent of Americans have no financial plan in place. (CNBC, April 2015) And yet, in the same study, 58 percent of Americans believe their financial planning efforts need more attention.
It’s unclear as to why so many Americans are not taking the steps now to get their financial future on track. Don’t make that same mistake. You may have questions about your own financial plan:
- Will I have enough money to retire when you want?
- Am I taking advantage of employer-matching investments through my work?
- What potential pitfalls are in front of me with my financial future?
- Is my portfolio positioned properly for the next recession?
- Who can I trust to give me sound financial advice to reach my financial goals?
The best step in planning your financial future may be connecting with an advisor through American Portfolios Denver. Our team of experienced financial professionals can help you find the right information to answer questions, create a customized investing strategy, and navigate the coming years. This process of planning your financial future can give you confidence, insight, and a trusted counsel into the future.
Start making your financial plan today with American Portfolios Denver. Send us a message to get started today.